Topic: JP Morgan completely changes its stance on bitcoin - page 2. (Read 668 times)

We can't yet tell whether their coin will be useless or not at this point since it usually takes time for any coin to really show it's value. But i agree with alosafidel58. These people know that blockchain will be the future so they adopt the technology that runs bitcoin. These people know how the money industry works and damn if they don't get themselves into blockchain.

Don't tell my you bought that whole charade by Jamie Dimon. Do you even know who this guy is? His father made a lot of money on Wall Street and pushed little Jamie up the ladder. But at least Jamie kept dad in the company until the end. Jamie is a socialist who likes to tell fake stories, like how he achieved everything all by himself. He's also a socialist. When asked what he would do if he were to become a president, he answered that he'd tax the rich and give money to the poor. He's so full of shit, like when he said Bitcoin is fake money and won't survive, and later admitted that his daughter is a crypto trader. It's hard to say if this guy is just bending the truth or straight up lying.
One thing is certain, he's making money in the process.

Actually this kind is ironic enough to see JP Morgan's attitude towards Bitcoin, they opposed crypto but instead made their own version of coin. Even some people call their coins useless. Well for me i think they are just said the fact.

I hope their plan will not succeed in the future and people will know who are they and will leave them alone. JPM can say anything but the important is we don't have to believe them before we research the truth.
I think that is normal for JPM says negative about bitcoin because he has a plan to use JPCoin as the best coin in cryptocurrency, but people will see the truth later. Meanwhile, we can search for other news about the market and let that news remain as news.

Just like many financial institutions in JP Morgan, they are only aiming for profit. They invested in creating FUD. Now they're trying to get a share of the market.

finally they want crypto by launching jpmcoin, they know the benefits but are anti- progress well cryptocurrencies are advances in technology that are increasingly sophisticated.
by the way benefits are much they know that, instead using bank services to collect funds from crypto its right but still they want crypto for benefit from being bullish I think not flipping

They have to or else no one will believe to them anymore. They can change it anytime they want, depends on the opportunity that they will grab, this market can be a great new place for them to attract investors and for sure they will try to do everything just to make their coin listed on much higher position.

It's pretty interesting when your opinion can change the actions of a lot of capable people, isn't it?

That of course affects a lot of things, because everyone else will probably follow them. Except of course they rivals who would try to compete and you can't blame them.

But this is extremely good for Bitcoin and Cryptocurrency in general. They might change it in the future to profit more, but seriously, Bitcoin still needs more time to mature - There's not rush yet.

That’s true, they will continue to create FUD news in this market because they want to attract investors to their own coin though they adopt cryptocurrency i can’t still see a support for bitcoin. Well, goodluck for JPMCoin i know they can’t still beat bitcoin. 

Bottomline, it is all about money. They can always change their stance on every situation that they are in as long as the company will benefit from it. And yes, they might have became aware that blockchain technology will significantly cut down their operational expenses. So they are just taking advantage of the situation to earn more for the company.

lets not confuse the market with bitcoin.
market is two parts the centralized part which is exchanges like Coinbase for example which has been regulated for ages. there is also a decentralized part of the network which is the P2P trades which is not and can not be regulated.
but all of that is only a small part of bitcoin itself. bitcoin on its own is still the same decentralized and unregulated payment system and it will remain that way.

They just want to regulate the Bitcoins price and since they have a say in the market and people actually think about what they said they use it in a very negative way.

Just because you have access to things like this doesn't mean you should misuse this but at the same time what do we have to prevent this on a large scale ?

We can only aware large section about the not so good tactics of people like them.

Its our choice to hold and sell , but interfering is super bad.
I recently stumbled upon this article

https://www.newsbtc.com/2019/03/22/report-bitcoin-and-crypto-markets-more-regulated-than-widely-thought/

' maybe we all can do something and let the normal flow of inflation and deflation run through the market .

Do not be fooled by JP Morgan's public antics, because it is perfectly timed and orchestrated attacks on it's biggest competition. They have crunched the numbers and already saw how Blockchain based technologies can save them millions. The savings will end up in the shareholders pockets, so it is a easy sell for them to pitch this to the board.

It is not uncommon for big companies like this to do a 360 on decisions like this, because they want to mislead their competition with their public statements. A month ago IBM were saying good things about Bitcoin and now they are partnering with Banks to develop their own coin. 

OP seems to be one of those people who immediately believes what he hears/reads from the news. worst part is that any bitcoin-related news sources have always been so shitty with what they publish.
JPM never changed their stance about bitcoin, they continue bashing it BECAUSE they created the centralized shitcoin called JPCoin and the more they advertise that, they more they will continue bashing anything that doesn't belong to them or controlled by them which includes most other cryptocurrencies too.

It's obvious that they are simply trying to do what is best for their corporation, which is often to give off the impression of something that you're not, or take a false stance.

It doesn't matter what other corporations think about bitcoin, no matter how large they are. This is the fundamental thing that most people are getting wrong, in my opinion, which is caring too much about what executives of certain companies have to say. The BTC network is decentralised for a reason, and that reason is exactly that of no one is able to ban, restrict, or manipulate the bitcoin network regardless of whether they're a centralised institution on a mass scale or not.

JPMorgan is probably only interested in BTC as a means of making profits, not so much so as an actual viable means of payment or currency. Thus, it is easy for them to shift stances like this, and it makes sense given that they are also somewhat invested in having a crypto venture at this stage. I would personally pay no close attention to any of this, because Dimon or other execs could come out tomorrow and say something completely different, should they change their own outlook regarding their crypto project.

It can be pure marketing strategy too...
What happened in 2017? A lot of people saw bitcoin to climb to the ATH and now they know a little bit about cryptos. (a really little bit). They also heared about the huge fall in the price of bitcoin.
They know that the price of bitcoin can fall because of the supply and demand on the short and long run, but they also know that the technology behind won't fail, so they trust the technology instead of the coin itself.
If you are a bank, how would you get more customers? You should differentiate yourself from the competitors. Banks are identical in services (nearly), so what makes people choose a bank is the 'brand'. A stronger brand means more customers on the long run. How could you make your brand stronger? You should make people trust in your bank and what is the base of the trust? It's the safety of your money.
Now if you state publicly that you are going to develop and install a new back end system that makey your bank even more secure (because of the new blockchain technology, or something similar) people will  belive you and would trust you even more. You don't even have to tell technical details, because people can't check what system do you use behind the scenes, so it's totally up to the marketing guys what they say and how they say it, to make the brand stronger... Like this communication from JP, it won't tell you much details but it's enough to make people belive that they will be better with the new system, and this is exactly what they want to achive.

They did not change their stance they changed their official public stance. They were trading bitcoin all along. When their CEO said that he'll fire people caught trading his company was caught doing exactly that. They were negative to discourage investors so they could short. Now they want to influence the market by talking good things about crypto. It's clear what they are doing.

China is aiming to control every transaction of its residents. All electronic identity in concentrated in messengers like WeChat and other similar apps, the government is testing an electronic social rating.
They are definitely not going to issue any kind of free money. The only possible thing is that they issue some kind of governmental stablecoin and remain controll over it in the hands of the government.

JPM launching their own coin (which is pegged to the US dollar, so it's more like a stable coin) doesn't mean that they are fully embracing cryptocurrencies, let alone that they're being bullish on cryptos...If anything it means that they're embracing the technology behind them, in this case, the blockchain technology.

About their stance on Bitcoin, it hasn't changed, and probably never will. I mean, the fact that they decided to create their own coin rather than adopt any other crypto says it all (plus, can you find a statement from JPM where it says that they changed their view on Bitcoin). They (bankers) will always oppose the idea of decentralized systems, they'll never change their stance on bitcoin.

That seems to be the case
There is no currency here
JPMorgan is trying hard to maintain the status of banks
They see BTC as a threat to banks
Although this is not true in this sense, there are prospects for coexistence.